Mortgage interest relief at source - The mechanism by which income tax relief was extended to a borrower on the interest paid on the first Ј30,000 of a mortgage on their main home.The system was known as MIRAS, and was operated by most building societies, banks and insurance companies, who would reduce the amount of interest eligible borrowers had to pay every month, and then claim the tax relief back from the Inland Revenue.The amount of relief available on MIRAS was gradually scaled down to 10% and ended altogether from 6th April 2000.
Mortgage interest relief at source : the mechanism by which income tax relief was extended to a borrower on the interest paid on the first Ј30,000 of a mortgage on their main home.the system was known as miras, and was operated by most building societies, banks and insurance companies, who would reduce the amount of interest eligible borrowers had to pay every month, and then claim the tax relief back from the inland revenue.the amount of relief available on miras was gradually scaled down to 10% and ended altogether from 6th april 2000.
Mortgage interest relief at source